Sale Deed rights

Querist : Anonymous (Querist) 18 October 2010 This query is : Resolved
Hi,

What is the difference between sale deed and gift deed.

Can a bank take over the non-mortagage property of a defaulter who has gift deed the property in the name of this son?

Is it better to do a sale deed instead of a gift deed to safegaurd the property from the bank?

Awaiting reply from experts!

Thanks!
Regards,
Abdul Bari.

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Devajyoti Barman (Expert) 18 October 2010
The major difference is absence of monetary consideration while executing the gift deed.
The bank can not attach the property if the bank is not the secured creditor.
Your query on this aspect is not clear.

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